by Matthew Russell Lee, Patreon Book Substack
SDNY COURTHOUSE, Dec 20 – In a civil cryptocurrency enforcement action, the Commodities Futures Trading Commission announced in mid 2022 it had filed a complaint in the U.S. District Court for the Southern District of New York against Gemini Trust Company, LLC for "making false or misleading statements of material facts or omitting to state material facts to the CFTC in connection with the self-certification of a bitcoin futures product."
On December 11, 2023 before SDNY Judge Alvin K. Hellerstein, there were oral arguments on motions to compel and other topics. Inner City Press was there, thread
Judge Hellerstein asked for a filing by Gemini but not, Gemini says, from the CTFC. Nevertheless the CFTC replied on December 19, saying they "request leave to respond." On December 20, Gemini fired back that the CFTC violated the court's (oral) order, but replying nonetheless. Gemini disputes the CFTC's claim they did not tell the agency about, among other things, their Pearl Street entity which lent Bitcoin to some Gemini institutional traders. The lawsuit... is on Pearl Street.
More on Substack here
The case is Commodities Futures Trading Commission v. Gemini Trust Company, LLC, 22-cv-4563 (Hellerstein)
***
Your support means a lot. As little as $5 a month helps keep us going and grants you access to exclusive bonus material on our Patreon page. Click here to become a patron.
Feedback: Editorial [at] innercitypress.com
